TotalEnergies adds 700 MW solar portfolio with KKR
- TotalEnergies (NYSE:TTE) and KKR (NYSE:KKR) agreed to add 700 MW of solar assets to their U.S. joint venture, expanding a portfolio currently holding 1.4 GW.
- The transaction covers three utility-scale solar projects in Texas and Ohio with an enterprise value of $1.2 billion.
- The companies said the assets are expected to begin commercial operations by the first quarter of 2027 as part of their renewable energy strategy.
TotalEnergies (NYSE:TTE) and KKR (NYSE:KKR) signed an agreement to add 700 MW of utility-scale solar capacity to their 50/50 U.S. joint venture created in 2025, which currently owns 1.4 GW of assets.
The transaction includes three solar projects located in Texas and Ohio, with the electricity from the projects already sold to third parties or expected to be marketed by TotalEnergies.
The portfolio has an enterprise value of $1.2 billion, and the projects are expected to reach commercial operation by the first quarter of 2027, subject to completion conditions.
TotalEnergies will continue operating the solar assets after the transaction closes, which is expected in 2026 following customary approvals and conditions.
The companies created their U.S. renewable energy joint venture in 2025 as part of a broader effort to develop and invest in utility-scale solar assets.
